Tristan Spurlock added 14 points, and Sykes finished with 21 points and 10 boards. Sykes, who hit 7 of 9 free throws, is shooting 88.4 percent (23 of 26) from the free-throw line in conference play after shooting 53.3 percent during nonconference play.
A 19-9 Mustangs run cut what was an 11-point deficit to 66-65 with just 1:49 remaining. But SMU (11-10, 1-5) could not overtake UCF, as Sykes and Kasey Wilson hit back-to-back layups while the Knights held the Mustangs scoreless the rest of the way.
The Mustangs, who entered allowing opponents to shoot just 39 percent, allowed UCF to shoot 46.4 percent (26-for-56).
Ryan Manuel had 17 for SMU, which has lost nine of its last 12 after starting the season 8-1.
The family of former Houston Astros owner Roy Hofheinz wants a court to require the University of Houston to keep his name on the school's basketball arena.
Michigan has hired assistant basketball coaches Billy Donlon and Saddi Washington.
Duke and Cincinnati, 2016 NCAA tournament teams, highlight the eight-team field for the Naismith Memorial Basketball Hall of Fame Tip-Off Tournament.